Who doesn't want to be recognized for their efforts? Employee appreciation is the acknowledgement of a person or team’s efforts towards the realization of the organization's goals. Appreciation is a basic human need, and employees respond to it because it confirms that their efforts are valued by others. When employees are appreciated, they become motivated and their productivity increases.
What Are the Benefits of Employee Appreciation?
- Increased Productivity
There is a direct correlation between employee appreciation and productivity. Employees who don't receive a pat on the back for their efforts won't be motivated to give more than the bare minimum. Why is this the case? Without any kind of validation or pride in their work, employees slowly become unengaged and disinterested. On the contrary, employees who receive some form of recognition are compelled to work harder.
- Increased Profitability
Unappreciated employees lack enthusiasm about the company and can cause financial drain. On the other side of the spectrum, employees who are recognized and appreciated will go an extra mile for the company--which significantly increases profitability. How do they contribute to financial success?
- They Put in Extra Effort: When employees feel valued, they give their all to their jobs. They will voluntarily stay late or work through a break to see a project through, and will readily take on more responsibilities when the need arises.
- Decreased Turnover and Training Expenses: Employees who feel appreciated are less likely to be looking for other opportunities. Reduced turnover also means a decrease in employee training costs. Esteemed employees will stick with the organization and continue to grow and increase their skills.
- Use Time Effectively:When employees feel needed, they will use more of their energy on the job at hand and waste less time with office gossip and social media.
- Create Innovative Solutions:Valued employees will try and solve the problems at hand by creating innovative solutions. They are up to the challenge and endeavor to improve the business and cut costs.
3 Great Ways of Showing Employee Appreciation
- Offer Career Growth Opportunities
It may surprise you, but the majority of employees prefer being rewarded with additional knowledge. Award employees with resources that will expand their horizons, then give them opportunities to take on new projects that are outside their scope of duties.
These opportunities are quite beneficial in today's digital business world where individuals and teams have to keep up with new developments and challenges. Each employee has an opportunity to redefine their position in the realization of the organization’s vision.
- Promote Health and Well-Being
Healthy employees make healthy organizations. They take sick leave less often and have more energy to perform their duties. You can implement a wellness program that rewards employees for healthy behavior. Those who engage in healthy activities will get more perks, and those who don't will see this as an opportunity to improve themselves.
- Give Personalized Gifts
Nothing makes someone feel more appreciated than a personalized gift. Think about what different employees value and structure the gifts accordingly. Some may value a gift card to their favorite store, others a spa treatment. There are those who will appreciate a gym membership or even a donation to their favorite charity. A personalized reward does not only demonstrate that you care about their work, but also about them as individuals.
Employee appreciation may sound quite simplistic, but its benefits are vast. Not only does it keep employees motivated, but also increases productivity and hence profitability.